In an interview to CNBC-TV18, Uday Kotak, Executive Vice-Chairman and Managing Director of Kotak Mahindra Bank, said the merger from practical point of view is effective April 1 and the forecast for merged entity will be given along with Kotak Mahindra earnings on May 5.
After the merger, Kotak Mahindra Bank will become India's fourth largest private sector lender . The merger would be done through a share swap in which 725 equity shares of Rs 5 each of Kotak Mahindra will be issued for every 1,000 shares of Rs 10 each held in ING Vysya Bank.
Uday Kotak Executive VC & MD, Kotak Mahindra Bank expects the bank to see higher ROEs going ahead.
In an interview to CNBC-TV18, Keki Mistry of HDFC shared his outlook on private sector lender Kotak Mahindra Bank's merger with ING Vysya Bank.
The NBFC company expects more guidelines from the central bank on the same.
Speaking to CNBC-TV18‘s Latha Venkatesh, VR Iyer CMD, Bank of India said the improvement in infrastructure sector can been seen only after the general elections.
ING Vysya Bank's management hopes to improve its net interest margins and expects a stable performance. It is also wary of stress on asset quality due to muted investment scenario and uncertainty till the general elections.
Reserve Bank governor Raghuram Rajan has said there is going to be a bigger opening because they could contemplate new rules for the entry of foreign banks. It may even allow them to take over Indian banks.
Shailendra Bhandari, MD & CEO, ING Vysya Bank explains on CNBC-TV18, after the announcement of quarterly results, that growth in NII led to an expansion in NIM to 3.61 percent. Advances grew 20 percent despite two large repayments from telco segment while deposits grew at 19 percent and the CASA was at 32 percent (y-o-y).
MD & CEO of ING Vysya Shailendra Bhandari says that the bank faced a few challenges in Q1 due to the interest rate scenario in the country
Shailendra Bhandari of ING Vysya Bank says, net interest margins were lower due to priority sector lending in Q4. "If you look at the full year NIMs, for the last several years, it has been very steady around 3.25% to 3.3%. So, we don‘t see any reason why the pattern should break," he adds.
The RBI's 50 bps rate cut was beyond expectation, stated Shailendra Bhandari, MD & CEO, ING Vysya Bank.
ING Vysya Bank has clocked net interest margin growth at 3.5% this quarter. Speaking to CNBC-TV18, Shailendra Bhandari, managing director and chief executive officer of the bank says that margins will stabilize at current levels going forward.
Shailendra Bhandari, managing director and chief executive officer at ING Vysya Bank expects the bank's credit growth to continue in the range of 22%-25%.
The private sector lender ING Vysya on Thursday raised Rs 1,000 crore through qualified institutional placements (QIP) and preferential allotment of shares to the promoters.
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ING Vysya Bank has announced its fourth quarter. The company's Q4 net profit was up at Rs 91.3 crore versus Rs 67.9 crore. Shailendra Bhandari, MD and CEO, ING Vysya Bank says, NIMs might inch down in the next quarter.
In an exclusive interview with CNBC-TV18’s Udayan Mukherjee and Mitali Mukherjee, Shailendra Bhandari managing director and CEO of ING Vysya Bank says that RBI’s move is all set to hurt the banking sector. “Banks are going to be under pressure in order to boost deposits,” he says.
ING Vysya Bank has posted a net profit of Rs 83 crore in the December quarter of FY11. Its net interest income (NII) jumped to Rs 245.7 crore from Rs 220 crore (YoY).